Frugal Living Can Be Lavish Living

Shopping and spending money to buy things is an exciting experience and you can easily go overboard due to the enjoyment of it all. But what we tend to forget at this point is that the more we are spending today, the lesser we will have saved for tomorrow. A small pocket means that you have lesser freedom of choice on what you want to do. This is exactly what I learnt two years ago when the digits in my bank account grew smaller because of my extravagant lifestyle.

Travelling, shopping, fine dining, gambling, and blowing off money was what gave me the nickname ‘Roy the Reckless.’ My job as a Chartered Accountant fulfilled every man’s dream of living the life to their fullest – and that is what I did for nearly 6 years. I dined in the best restaurants every night and booked flights across the oceans at least once a month. I bought the newest products in the market and wore outfits from only the best designers. Men my age envied me, and women wanted to know me.

So where did I go wrong? I bought everything on my credit card and did not save money for the crucial times of life.

Due to the recession I lost my job, and my wonderful life came back to haunt me when I could not pay my credit card debt. Unlike many people, I did not give up and consider bankruptcy, but instead fought with the “impossible” debt I had created myself. I made an account of the money I had and where it was going. I budgeted finances and spent economically on the bills that I could control, like electricity, water, and gas. I cooked at home with the help of cooking channels, and shopped for important items needed at home. Living sparingly was tough in the beginning, but when I saw my bank account numbers rising again, it was worth it all.

After two years of living frugally, I have control over my life and finances again. With the lesson learnt, I now spend carefully; yet live lavishly as I save more to have an even brighter tomorrow!